Interest u/s. 234b
This query is : Resolved
30 December 2014
A assessee is taking deduction u/s. 35(2AB) for in house R & D of RS. 15,00,000/-, and he file income tax return of A.Y. 2012-13 before due date.
The Balance sheet and P&L of R & D devision was submitted to Autho.(i.e. DSIR), but DSIR send approval certificate (i.e. Form 3CM & 3CL) to the assessee with approved expenditure of RS. 11,00,000/- for which eligible for 35(2AB).
So, please guide me that whether such assessee is liable to pay interest u/s 234B for income tax payable due to disallowance of Expenditure by DSIR?
Thanx...
The Balance sheet and P&L of R & D devision was submitted to Autho.(i.e. DSIR), but DSIR send approval certificate (i.e. Form 3CM & 3CL) to the assessee with approved expenditure of RS. 11,00,000/- for which eligible for 35(2AB).
So, please guide me that whether such assessee is liable to pay interest u/s 234B for income tax payable due to disallowance of Expenditure by DSIR?
Thanx...
30 December 2014
yes you have to pay the tax and intt on tax amount.
30 December 2014
Thanx Sir
But tell me for what period he liable pay Interest as mentioned above
But tell me for what period he liable pay Interest as mentioned above
01 August 2024
https://docs.google.com/document/d/1MsR2YWf3wObSShQnpHdB99u8edjeMyb5xnJYafCWr5s/edit?usp=sharing
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Upload Level Validation Error
- Deduction for HUF
- EXEMPTION UNDER SECTION 54 FOR UNDER CONSTRUCTION FLAT
- How to add NRE account to income tax profile?
- Merger issue
- Nill TDS Return FY 2025-26
- Salary u/s 194C
- Sale of foreign shares by Indian resident
- Form 10E requirement for Leave encashment and Gratuity received at retirement
- AY2025-26- Bug in ITR2 Online Filing - TDS Section related to Property Sale
- TAXABILITY OF STATE INSURANCE MATURITY RECEIPTS BY RAJASTHAN GOVERNMENT EMPLOYEE ON RETIREMENT ?
- Document to add trade name
- GST Partners addition
- Non-disclosure of Foreign Shares & Dividend in Past ITRs – How to Rectify & Report Now?
- ICWAI-Final best coaching center for online by English
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Refund_ Insufficient in credit ledger
- EPF Withdrawal Where to show in ITR2
- 54 F disallowance presentation in ITR 2
- TDS on disallowance and reporting
Trending Online Classes
-
Input Tax Credit, GST refunds and Recovery of refunds- Roadblocks and way outs
CA Nipun Arora03 September 2025 -
GST LIVE Certification Course - 43rd Weekdays Batch(With Govt Certificate)
Industry Expert15 September 2025
CAclubindia
